Labor Market Hints at Recovery
As Jobless Claims Drop by 11,000

A Wall Street Journal Online News Roundup

Updated Dec. 21, 2001 12:09 a.m. ET

WASHINGTON -- Initial jobless claims dropped unexpectedly last week to a five-month low, signaling that the weak labor market may be recovering. But the total number of workers drawing unemployment benefits crept higher.

The number of workers filing first-time applications for unemployment benefits fell by 11,000 claims to 384,000 in the week ended Saturday, the Labor Department said. The decline, which brought claims to their lowest...